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Consider the following production function: $$f(z_1, z_2, z_3, z_4) = min\{α_1z_1, α_2z_2\} + min \{α_3z_3, α_4z4\}$$ The solution to the cost minimization problem requires $z1^* = z2^*$ and $z3^* = z4^*$.

Is this statement true or false?

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  • $\begingroup$ Hi! If you find this question too difficult to research and answer, you are not likely to have a good/useful time in the Economics course you are attending. If you have the option of dropping the course, I recommend doing so. $\endgroup$
    – Giskard
    Commented Dec 31, 2023 at 9:40

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attached Sorry for not typing out, you can see my solution image:

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